HUF

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nony (Querist)
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06 August 2009 hi moderator,
i m a new member of ur forum.i was going thru mails written by other members ,they were very helpful. i have 2 quaries regardiing my HUF account.
1.my husband was the karta ,he expired last year,me n my minor son are the member of above said HUF.NSDL has asked me to get succession certificate as HUF has desolved? is it true? if so than can u give the reference of it.
2.HUF was generated by money gifted by my sister inlaw who is married ,now asking me to return that money , am i legally responsible to return that money? my husband already returned that money to her after earning but i dont have legal documents of that n she is denying n threatening me to go to court.

Vivek Gupta

Vivek Gupta (Expert)
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07 August 2009 1. yes... the HUF stands dissolved as there is a change in the beneficeries.

2. definetely, your sister in law would have gifted the amount vide any stamp paper. the most imp. you can't say taht your husband has returned the money to ur sister, as we can understand it was just arrangemnet of funds for creatinh HUF. So, you need to let me have further details to help you know whetehr your sister in law can claim teh amount back.

these details cannot be written on this public domain. so, better you can mail me on vivek.g@adityabirla.com

I would be glad to be of any help to you.